Bowlero, World''s Largest Owner and Operator of Bowling Centers and Owner of the Professional Bowlers Association, to List on NYSE Through Merger With Isos Acquisition Corporation
Merger with Isos Acquisition Corporation (NYSE: ISOS ) supports further expansion of Bowlero''s large, profitable and growing business. Pro forma implied enterprise value of the combined company is approximately $2.6 billion. Transaction includes $450 million PIPE anchored by institutional investors including funds managed by affiliates of Apollo Global Management, Inc., Brigade Capital Management, Soros Fund Management LLC, The Donerail Group LP and Wells Fargo Asset Management. Total pre-pandemic trailing twelve months (TTM) through Feb 2020 revenue and EBITDA were $746 million and $201 million, respectively. Revenue and EBITDA for calendar year 2022 are expected to be $859 million and $275 million, respectively. Bowlero''s proven growth plan includes many powerful vectors, such as upgrades and conversions of its current centers, development of greenfield locations and acquisitions. Highly fragmented industry with more than 3,500 independent operators represents an attractive consolidation opportunity to drive further growth.
Bowlero, World''s Largest Owner and Operator of Bowling Centers and Owner of the Professional Bowlers Association, to List on NYSE Through Merger With Isos Acquisition Corporation
Merger with Isos Acquisition Corporation (NYSE: ISOS ) supports further expansion of Bowlero''s large, profitable and growing business. Pro forma implied enterprise value of the combined company is approximately $2.6 billion. Transaction includes $450 million PIPE anchored by institutional investors including funds managed by affiliates of Apollo Global Management, Inc., Brigade Capital Management, Soros Fund Management LLC, The Donerail Group LP and Wells Fargo Asset Management. Total pre-pandemic trailing twelve months (TTM) through Feb 2020 revenue and EBITDA were $746 million and $201 million, respectively. Revenue and EBITDA for calendar year 2022 are expected to be $859 million and $275 million, respectively. Bowlero''s proven growth plan includes many powerful vectors, such as upgrades and conversions of its current centers, development of greenfield locations and acquisitions. Highly fragmented industry with more than 3,500 independent operators represents an attractive consolidation opportunity to drive further growth.